Gannavaram locality in Vijayawada offers cheap residential plots

Real estate is one of the most profitable investment known to be evergreen in financial aspects. It is one of those investment fields where if one invests after careful research he/she could reap maximum profits at favourable markets. Vijayawada also known as the “Bezwada” or “The place of Victory” is an important hotspot for real estate investment in Andhra Pradesh. Vijayawada is known popularly for its cheap lands excels in real estate market. This article will show what Gannavaram locality has in store for the real estate market and its future developments.

Gannavaram is located 20 Km away from the city on the National Highway 5. The locality offers numerous residential plots. These plots are open plots and are approved by VGTM-UDA (Vijayawada-Guntur-Tenali-Mangalagiri urban development authority). The price of these residential plots are low compared to other localities. The locality is still in developing phase and hence the low price for plots.

The people who buy plots here are middle class family who wants to build their houses in these plots. But the number of investors are very less compared to other locality and they prefer to buy big agricultural lands worth Rs. 50 lakhs to 1 Crore. The residential plots are located in the outskirts of the city which adds as another reason for the low price of these plots.

The plots are sold around Rs. 5 lakhs to 30 lakhs of area ranging around 900 sq.ft. to 2,700 sq.ft. The area even though is cheap at present has a huge potential for price appreciation in the future. The locality Gannavaram is experiencing rapid development in and around the micro market.

The area also has well developed social infrastructure consisting of standard schools, colleges, the locality is also well connected by NH-5 and NH – 9 and adjoining both inner and outer ring roads. The prices of the residential market in this area is expected to hike more than 20 – 30 % in coming years.